Here’s something you may not think about:
Bernie Madoff, author of the largest financial fraud in history, started from scratch. Back in the 1960’s, he had just $5,000, which he earned working as a lifeguard and sprinkler installer.
So how did he go from this modest beginning to a $65 billion investment Ponzi scheme?
Through referrals, of course.
His father-in-law, an accountant, referred friends and their relatives to Madoff, and this got the snowball rolling.
Unfortunately, you and I don’t have Bernie Madoff’s father-in-law to press-gang clients for us. But we have the next best thing.
And that’s Jay Abraham, whose stuff I’ve been listening to non-stop the past few weeks.
One of Jay’s products is “93 Referral Systems” — basically a bunch of people at a Jay Abraham seminar, coming up to the microphone and sharing what their business is and how they get referrals.
I haven’t yet finished all 93, but here are 7 that have stuck with me so far:
#1. The “ultimatum” referral system
In a nutshell: Refuse to do business with people unless they make referrals
A dentist in Australia decided to make his entire practice more upscale and based on referrals. So after interviewing a potential new patient to his exclusive practice, he would simply tell them that referring two equally qualified leads was a requirement for getting in. Result? Patients would ask him, “Can I refer only two people?”
#2. The “steak and eggs” referral system
In a nutshell: Approach complementary businesses and give them a cut for referrals
A heating-and-cooling company started a new duct cleaning side business. They went to their competition (in heating and cooling), and asked for referrals for duct cleaning in exchange for a cut.
#3. The “golf buddy” referral system
In a nutshell: Join an affinity-based association
Some kind of unidentified consultant joined the National Speakers Association, and got many referrals from within the organization itself.
#4. The “welcome to our cult” referral system
In a nutshell: Whip people up into a frenzy and ask them to refer your business
This one is from Jay’s own seminars. Once somebody signed up, the salesperson would ask them, “How serious are you about this?” The salesman would then point them to phones in the back of the room, and ask them to call three people and tell these three people about the decision to enroll in the seminar.
#5. The “lobbyist” referral system
In a nutshell: Hire lobbyists to reach the unreachable
An investing company was looking for institutional investors. So they found retired executives, got them to sign a contract saying they’d get 10% for referring people they knew.
#6. The “fog of war” referral system
In a nutshell: When somebody buys, contact people near them
This one’s from a Lexus dealership. When they delivered the car, they’d ask if it’s ok to mail all the neighbors. They would then send direct mail to the neighbors, telling them how Mr. Jones down the street just got a brand new Lexus in a “neighborhood beautification program” and how they can too.
#7. The “Frank Bettger” referral system
In a nutshell: Get your clients talking about themselves so they like you
A life insurance salesman would take his clients out to lunch. He’d kick things off by using a Frank Bettger classic: “How did you get started in this business, Mr. Bejako?” He’d then transition to asking for advice. “What could I do to be more successful?” And then he’d go for the kill. “I’d love to expand my business and get more referrals. Who are some high-quality prospects you’d call on if you were in my shoes?”
And there you go. 7 proven systems to get you more leads, more business, and more, more, more munny.
And in case you’re wondering…
Yes, I too will start implementing some of these referral systems right away.
So if you need sales copy written, get in touch with me and we can talk. Just know that I only take on new clients if they can refer two equally qualified prospects for my copywriting services.